Changes in US stocks | Apple (AAPL.US) CEO Cook increased his holdings of Nike (NKE.US) by more than 2.6% before the market

The Zhitong Finance App learned that on Wednesday, Nike (NKE.US) rose more than 2.6% in the premarket to $58.86. According to the news, Apple (AAPL.US) CEO Cook himself bought Nike shares worth nearly 3 million dollars. Cook has served on Nike's board of directors since 2005 and is the company's chief independent director. Cook himself often wears Nike co-branded trendy shoes to attend Apple presentations. Cook himself bought 50,000 Nike shares at $58.97 each, according to an SEC regulatory filing released on Tuesday.

The move comes after Nike's latest performance report released last week showed weak quarterly profit margins and a significant slowdown in sales in the Chinese market. Since the release of the performance report on December 18, Nike's stock price has dropped sharply by nearly 13%. Since this year, the stock price drop has been as high as 22%, significantly outperforming the S&P 500 index.

According to documents, as of December 22, Cook now holds about 105,000 Nike shares. The latest buying move can be described as “increasing his holdings on dips” of Nike shares. Many financial media interpreted Cook's increase in holdings as an expression of strong confidence in Nike's future growth prospects.